Veda Brings Kraken Vaults to 2,000+ Teams on Privy

Veda is making the vault infrastructure that powers Kraken DeFi Earn available to developer teams building on Privy via an API integration announced at Proof of Talk 2026 in Paris.

Privy, acquired by Stripe in June 2025, provides embedded wallet infrastructure to more than 2,000 developer teams and supports over 120 million accounts. Its wallets do not require seed phrases or separate apps.

Until now, Veda reached platforms through one-off integrations with companies including Kraken and EtherFi. Those integrations required months of engineering work.

The Privy API allows developers to call Veda's vault stack directly instead of building a custom connection. At launch, Veda will offer two vaults that use diversified, multi-protocol strategies across leading EVM chains and accept major stablecoins. Developers can set their own fee on top of the yield strategies.

Veda plans to publish specific vault configurations and live yield networks in product documentation at launch. The company intends to add more allocation pathways after general availability, including top lending protocols and support for Solana.

Privy and Veda reported stablecoins now make up about 70% of assets in Privy-powered wallets, up from roughly 20% a year earlier. Veda said Kraken DeFi Earn drew more than $250 million in deposits in under four months.

Veda reported it has not experienced a major security incident. The company recently appointed Alberto Cuesta Cañada, co-author of the ERC-4626 vault standard and a former head of security at Optimism, as vice president of onchain security, and named TuongVy Le, former general counsel at Anchorage and a six-year SEC veteran, as general counsel.

Veda offers enterprise controls such as screening for OFAC sanctions, limiting vault access to a whitelist of approved users, and refusing to support products it deems excessively risky or opaque. Raghupathi described security as the company's top priority and noted the team has worked through stablecoin depegs, protocol exploits and liquidity crunches.

Raghupathi added that clearer rules would help the vault category and that some product types would not be supported. He said mainstream users are likely to access decentralized finance services through apps they already use rather than by interacting directly with blockchains.

Privy CEO Henri Stern said the integration expands what developers on the platform can build and that access to Veda's vault infrastructure through Privy's APIs lets teams offer yield products previously available only to large crypto platforms.

Access to the integration is currently by waitlist. Veda and Privy plan general availability next month.